I am an existing user of the FundsIndia equity platform. FundsIndia is basically a sub-broker with Emkay global. While opening the account with them basically I had opened a trading and demat account with Emkay(through FundsIndia) and I was placing all the transactions through the FundsIndia platform directly.

Now recently I have received a courier from FundsIndia stating that they have now become a stock broker with BSE stock exchange and hence would like us to open a different trading and demat account with them directly and closing the account with Emkay. Further we can transfer our holdings with Emaky to the new account simply by filling the Emaky account closure form and selecting transfer of holdings in that.

What I am confused about is the lack of this information anywhere in the media and internet as well. Infact the same announcement is not even there in their website.

Anyone has any information on this? Would appreciate any information in this regard.

Yes, we have a BSE broker license now, and we are transitioning our customers to the new platform.

The new platform, to begin with, will look and feel entirely like the old and there will be no changes. However, the broker license gives us the ability and flexibility to do some interesting things on the platform which our customers will see in due course.

During this transition phase, we are communicating this information to individual customers directly. I can answer any question that you may have or pull in my equity team to provide answer as well.